FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

ssi_usd-chf_body_Picture_2.png, FOREX ANALYSIS: Canadian Dollar Forecast to Strengthen

USDCAD Retail forex trading crowds have increased their net-long US Dollar (ticker: USDOLLAR) position against the Canadian Dollar, and a contrarian view of crowd sentiment favors USDCAD declines.

Crowd net positioning is now at its most bullish since the pair traded below C$0.9900 in October, and such one-sided sentiment warns that the pair could continue lower.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

New to FX markets? Learn more in our video trading guide.

Contact David via

Twitter at https://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4122+0.0005+0.03%
    USDSGD=X
    1.5967+0.0142+0.90%
    EURSGD=X
    2.1615-0.0049-0.23%
    GBPSGD=X
    84.7469-1.1288-1.31%
    SGDJPY=X
    5.4879-0.0018-0.03%
    SGDHKD=X
    2.9697+0.0039+0.13%
    SGDMYR=X
    9,972.3574+24.3496+0.24%
    SGDIDR=X
    4.5061-0.0103-0.23%
    SGDCNY=X
    0.9916-0.0122-1.21%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,139.40+6.90+0.61%
    GCZ15.CMX
    14.60+0.01+0.06%
    SIZ15.CMX
    46.81-1.62-3.34%
    ^XAU
    2.29-0.05-1.95%
    HGZ15.CMX
    45.03-4.17-8.48%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.50-0.04
    ^FVX
    2.17-0.03
    ^TNX
    2.930.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.128-0.002-1.54%
    5DN.SI
    0.315+0.005+1.61%
    5WA.SI
    0.52-0.03-4.59%
    N21.SI
    3.71-0.03-0.80%
    Z74.SI
    0.70-0.02-2.78%
    5ME.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.20+0.02+11.11%
    5G1.SI
    0.22+0.02+10.00%
    AZR.SI
    0.22+0.02+7.32%
    5FL.SI
    0.79+0.05+6.76%
    41E.SI
    0.128+0.008+6.67%
    PH0.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.25-0.06-18.03%
    578.SI
    0.205-0.045-18.00%
    5NF.SI
    0.158-0.033-17.28%
    L02.SI
    0.112-0.021-15.79%
    40U.SI
    0.205-0.030-12.77%
    R14.SI